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GBPJPY: Multi head concussion moves up
2022-09-30
1114
Fundamental analysis:
The pound remained volatile against the yen at 160.471. The UK Treasury: the UK will not change its tax reduction plan. Traders cut their bets on the peak interest rate of the Bank of England. It is expected that the interest rate will be lower than 6% by May next year, reducing the probability of the European Central Bank raising the interest rate by 75BP in October from 90% to 40%.
GBPJPY - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the low bulls' momentum keeps surging, short-term bullish sentiment is shrouded, and the market bulls have further moved upward. The low bulls of the MACD index keep surging up to the upper side of the 0 axis and hover, and the RSI index is in the 50 balanced online narrow range;
Empty turning point: 160.131
Pressing position: 161.798, 163.117
Support position: 158.950, 157.596
Trading strategy: bullish above 160.131, target 161.798, 163.117
Alternative strategy: bearish at 160.131, target 158.950, 157.596
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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